Tracking Point Raises Another $29 million

Tracking Point has just raised another $29 million in new funding. CrunchBase reports …

Austin-based applied technology company TrackingPoint has raised $29 million in new funding from Genesis Inventions and McHale Labs with participation from Austin Ventures and new investor GTP Holdings. TrackingPoint makes precision-guided and semiautomatic firearms that enable users to track moving targets and make more accurate long-distance shots. Launched in 2013, TrackingPoint sold over 500 firearms last year and will put the new funds toward launching new products for civilians as well as improving products for use by the U.S. Army.

Back in December, Tracking Point also raised $4.1 million in debt funding. They have sold 500 firearms, which given the price of them, is not bad at all. That would exclude the Remington 2020 scope they manufacture for Remington’s upcoming line of smart rifles.